This invention relates to a process for converting 2,4-dichloropyridines into 2-aryloxy-4-chloropyridines. This process can be used to prepare 3,6-di-(C.sub.1 -C.sub.4)alkyl-4-chloro-2-(2,4,6-trisubstitutedphenoxy)pyridines, which are intermediates in the synthesis of pharmaceutically active 2-phenoxy-pyridine derivatives that exhibit activity as corticotropin releasing factor (CRF) antagonists and are useful in the treatment of several neurological disorders. Such pharmaceutically active compounds, methods of preparing them and the neurological disorders that they are useful in treating are described in copending U.S. patent application No. 08/255,514, which was filed on Jun. 8, 1994, (now abandoned), which is a 371 of PCT/IB95/00439 filed Jun. 6, 1995, which issued as WO 953370 Dec. 14, 1995. This PCT International Application is incorporated herein by reference in its entirety.